Dollar Defies Trump Turmoil, Rising With Focus on the Fed’s Path

When it comes to the dollar, the surprising resilience of the US economy is overpowering the geopolitical turmoil unleashed by President Donald Trump.

Traders ratcheted up their bets against the US currency heading into the new year, wagering it would be dragged down again as the Federal Reserve cuts interest rates, giving global investors incentive to shift cash to places where payouts are higher. Trump’s capture of Venezuelan leader Nicolás Maduro, claim to that nation’s oil fields, and threats against other countries seemed primed to give the dollar another tug lower by threatening to rekindle concerns about the safety of US assets.